FSB Cracks Down on Moscow Crypto Exchanges Linked to Ukrainian Scam

Russia's FSB has conducted a large-scale operation against nine Moscow-based cryptocurrency exchanges suspected of being linked to Ukraine-based scam call centers. The raids, which took place at the Moscow International Business Center, resulted in the detention of over 20 workers and the opening of criminal cases under Part 4 of Article 159 of the Criminal Code.

The FSB claims that the exchange offices converted stolen funds into cryptocurrency before sending them abroad, allowing the fraud proceeds to move beyond Russia. Investigators said that scammers kept victims engaged remotely while directing each financial step, including buying cryptocurrency through the targeted exchange offices without understanding the wider transaction.

Authorities also detained suspected couriers who allegedly collected money from defrauded citizens and delivered it to crypto exchangers. The FSB believes that recruitment for these operations targeted young people from Russian regions seeking quick income, with some recruits having limited financial knowledge before joining exchange operations.